For the first time in months, the entire list of top ten stablecoin assets has experienced supply shrinkage in the last 30 days. The stablecoin market now stands at $124 billion, following notable reductions across several projects. Yet, stablecoins still dominate in terms of global trade volume, accounting for 61% of all settled trades in the past day.
Top 10 Stablecoin Supplies Drop Lower in 30 Days; FDUSD’s Supply Jumps 23% Higher
Each of the ten premier stablecoins by market value has observed a decrease in supply. Notably, tether (USDT) experienced a 1.3% dip in its circulation over the recent month. USDC’s supply has diminished by 3%, and Makerdao’s DAI took a 7.6% hit.
The Paxos-backed BUSD now hovers slightly above 3 billion, shedding 15.7% of its circulating supply since the same period last month. Meanwhile, trueusd (TUSD) and Frax’s FRAX supply lessened by 1% and a whopping 19.8%, respectively.
Both USDD and USDP underwent reductions ranging from 1.2% to 10.1%. Concu
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